Asset Protection Strategies
Setting up an asset protection trust business structure can help to protect your assets or limit your liability – regardless of how big or small your business is.
Many people incorrectly believe that asset protection trusts are just for large enterprises, big business owners and wealthy people, but their benefits can also be utilised by almost anyone and any size of business, as everyone needs to ensure their assets are adequately protected.
Greenhalgh Pickard’s business accountants on the Sunshine Coast take pride in keeping up-to-date with the latest changes in the ever-changing trust laws to ensure the advice you receive is always current. In combination with the in-house experience in insolvency law, the team’s ability to tailor superior asset protection strategies is unsurpassed – regardless of whether you have assets that are low in value or you need more intricate trust protection solutions for larger asset bases.
John Greenhalgh and the team at Greenhalgh Pickard are seasoned experts in asset protection. With extensive experience across diverse accounting and legal disciplines, they offer a comprehensive approach to safeguarding your assets. Their thorough consideration of all aspects ensures the best customized asset protection package tailored to your specific needs.
Setting up a legal trust
If you operate your business as a trust, the trustee is legally responsible for its operations. Because the trustee can be a company, this can assist in providing personal asset protection.
Setting up a trust requires a formal trust deed that outlines how the trust operates and administrative work that must be undertaken each year.
Another benefit of trusts, if set up and managed correctly, is they can reduce tax rates through the ability to distribute income to beneficiaries on a much lower, individual tax rate.
If you need advice in the area of setting up a legal trust, including advantages and disadvantages compared to other business structures, call (07) 5444 1022 today.
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